Russell Investments Group Ltd. decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 23.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,967 shares of the energy company’s stock after selling 7,194 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ormat Technologies were worth $1,519,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. grew its position in Ormat Technologies by 3.8% during the 2nd quarter. Prudential Financial Inc. now owns 4,367 shares of the energy company’s stock worth $277,000 after purchasing an additional 160 shares in the last quarter. Rhumbline Advisers grew its position in Ormat Technologies by 0.7% during the 1st quarter. Rhumbline Advisers now owns 59,172 shares of the energy company’s stock worth $3,263,000 after purchasing an additional 429 shares in the last quarter. Clearbridge Investments LLC grew its position in Ormat Technologies by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 79,226 shares of the energy company’s stock worth $4,369,000 after purchasing an additional 660 shares in the last quarter. Brasada Capital Management LP grew its position in Ormat Technologies by 2.1% during the 2nd quarter. Brasada Capital Management LP now owns 39,320 shares of the energy company’s stock worth $2,467,000 after purchasing an additional 803 shares in the last quarter. Finally, Somerville Kurt F grew its position in Ormat Technologies by 7.1% during the 2nd quarter. Somerville Kurt F now owns 13,255 shares of the energy company’s stock worth $840,000 after purchasing an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Several equities analysts have weighed in on ORA shares. Roth Capital lifted their price objective on shares of Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. UBS Group lifted their price objective on shares of Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $70.33.
Shares of NYSE:ORA traded up $0.08 during trading on Friday, reaching $73.21. 275,401 shares of the company traded hands, compared to its average volume of 186,164. The firm has a fifty day simple moving average of $71.41 and a 200 day simple moving average of $62.54. The firm has a market cap of $3.75 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.78 and a beta of 1.06. Ormat Technologies, Inc. has a 1-year low of $49.01 and a 1-year high of $74.75. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.
Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $184.10 million during the quarter, compared to analyst estimates of $175.60 million. Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. As a group, research analysts anticipate that Ormat Technologies, Inc. will post 1.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Monday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.15%.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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